Fannie Mae-No Politics (FNMA)

[ReadyToRumble]

I'm pretty confident that, at a minimum, they will reduce the warrant value by a significant amount as to not create an ugly dilution scenario. The warrants aren't "necessary" any longer, and I'm pretty sure there's plenty of litigation lined up to challenge the validity of their very existence at this stage of the game.
That said, I don't think we'll wake up one day and they'll simply have disappeared but I also don't think they'll be exercised in their current state. I mean really, who the hell can justify .0001 ps?